Answered: years. The interest rate is i(12) =…

years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after 453 payments? O a. $349.45. O b. $373.01. C. $392.64. O d. $325.89. e. $298.40.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Yagoda borrows $2,150.00 which she will repay with level weekly payments over 10
years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the
loan just after 453 payments?
a. $349.45.
O b. $373.01.
O c. $392.64.
O d. $325.89.
O e. $298.40.

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